This is why the BOJ wants a weaker yen, why the SNB wanted a weaker franc (by pegging it to the Euro), why the PBOC wants a weaker Yuan (by pegging it to the dollar), and why countries the world round are lowering rates into the abyss (like the Danish bank, which today pushed their negative rates even more negative). Which is, that a strong currency makes it more expensive for foreigners to buy your products. This results in a loss of market share – and JOBS! And thus, politically speaking, lawmakers will always seek a weaker currency, no matter that the “99%” are devastated by the inflation such policy causes. This is what I long ago deemed the “final currency war” (/the-final-currency-war).

a

Garrett
on January 19, 2015 at 8:24 pm

Andy, you are the smartest guy in the room! Thanks for all your hard work!

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